E&A Limited is an unlisted public company and disclosing entity. E&A Limited’s shares are not listed on any licensed market or exchange, including the Australian Securities Exchange (ASX). In order to provide shareholders with some liquidity for their shares, E&A Limited has received approval from the Australian Securities and Investments Commission (ASIC) to operate a low volume financial market under an exemption provided by section 791C of the Corporations Act 2001 and in accordance with the Corporations-low-volume-financial-markets-exemption-notice-2003. It is important to note the following:

  • E&A Limited is not licensed under Part 7.2 of the Act
  • E&A Limited is not subject to the legal obligations that apply to the operator of a licensed market, including the requirement, to the extent that it is reasonably practicable to do so, to do all things necessary to ensure that the market is a fair, orderly and transparent market

General Rules

E&A Limited will record the aggregate total volume and value of transactions conducted on the market to ensure that no more than 100 (one hundred) completed transactions with a total value (measured by sale price) of not more than $1.5 million, are entered into during any 12 month period. Therefore, if a transaction would cause either the total volume or value of all transactions entered into in any 12-month period to exceed either of those limits, E&A Limited may not approve the transaction or suspend the market to the start of the subsequent 12 month period. In such a case interested Sellers and Buyers would have the option of either waiting for the next 12 month period to commence or find a counter party themselves (i.e. a party that is not on the Register).

All share transactions are to comply with E&A Limited’s constitution.

The matching, negotiation and execution of any transaction that occurs will take place between the Buyer and Seller without any involvement from E&A Limited. Settled transactions will be processed by E&A Limited’s share registry, Link Market Services Limited (Registry). Once the transaction has been processed by the Registry, the register of sellers and buyers will be updated accordingly.